https://www.taxtmi.com/caselaws?id=380906 In a closely held company, share transfers and further allotments must rest on proper authority, transparent procedure, fair treatment of members and statutory compliance. An alleged settlement document that is not a binding arbitral award or Tribunal-recorded compromise, and that lacks full consent of affected parties, cannot defeat a pending oppression and mismanagement petition. A second transfer of shares without reliable board authority or bona fide compliance is liable to be ignored and the register rectified. Selective allotments made without a proper, proportionate and transparent basis, and in breach of directors' fiduciary obligations, are vulnerable to being treated as illegal. en-us Tue, 16 Apr 2019 00:00:00 +0530 Thu, 22 Aug 2019 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380906 In a closely held company, share transfers and further allotments must rest on proper authority, transparent procedure, fair treatment of members and statutory compliance. An alleged settlement document that is not a binding arbitral award or Tribunal-recorded compromise, and that lacks full consent of affected parties, cannot defeat a pending oppression and mismanagement petition. A second transfer of shares without reliable board authority or bona fide compliance is liable to be ignored and the register rectified. Selective allotments made without a proper, proportionate and transparent basis, and in breach of directors' fiduciary obligations, are vulnerable to being treated as illegal. Case-Laws Companies Law Tue, 16 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380906